Western Midstream Partners LP (NYSE: WES) is 34.52% higher on its value in year-to-date trading and has touched a low of $26.49 and a high of $42.80 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WES stock was last observed hovering at around $38.80 in the last trading session, with the day’s gains setting it 0.56%.
Currently trading at $39.36, the stock is 1.00% and 1.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.64 million and changing 1.44% at the moment leaves the stock 9.27% off its SMA200. WES registered 43.81% gain for a year compared to 6-month gain of 14.32%. The firm has a 50-day simple moving average (SMA 50) of $38.6234 and a 200-day simple moving average (SMA200) of $35.97145.
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The stock witnessed a -1.72% loss in the last 1 month and extending the period to 3 months gives it a -6.88%, and is -0.30% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.42% over the week and 1.80% over the month.
Western Midstream Partners LP (WES) has around 1377 employees, a market worth around $14.98B and $3.43B in sales. Current P/E ratio is 10.15 and Fwd P/E is 10.65. Profit margin for the company is 43.23%. Distance from 52-week low is 48.58% and -8.04% from its 52-week high. The company has generated returns on investments over the last 12 months (14.22%).
The EPS is expected to grow by 56.04% this year
286.0 institutions hold shares in Western Midstream Partners LP (WES), with institutional investors hold 83.58% of the company’s shares. The shares outstanding are 379.52M, and float is at 210.68M with Short Float at 1.62%. Institutions hold 83.33% of the Float.
The top institutional shareholder in the company is ALPS ADVISORS INC with over 27.9 million shares valued at $1.11 billion. The investor’s holdings represent 7.3425 of the WES Shares outstanding. As of 2024-06-30, the second largest holder is INVESCO LTD. with 22.27 million shares valued at $884.77 million to account for 5.8601 of the shares outstanding. The other top investors are BLACKSTONE INC. which holds 14.69 million shares representing 3.8656 and valued at over $583.64 million, while TORTOISE CAPITAL ADVISORS, L.L.C. holds 2.2467 of the shares totaling 8.54 million with a market value of $339.21 million.
Western Midstream Partners LP (WES) Insider Activity
The most recent transaction is an insider sale by OCCIDENTAL PETROLEUM CORP /DE/, the company’s 10% Owner. SEC filings show that OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares of the company’s common stock on Aug 14 ’24 at a price of $35.75 per share for a total of $697.12 million. Following the sale, the insider now owns 165.68 million shares.
Western Midstream Partners LP disclosed in a document filed with the SEC on Aug 14 ’24 that OCCIDENTAL PETROLEUM CORP /DE/ (10% Owner) sold a total of 19,500,000 shares of the company’s common stock. The trade occurred on Aug 14 ’24 and was made at $35.75 per share for $697.12 million. Following the transaction, the insider now directly holds 165.68 million shares of the WES stock.
Still, SEC filings show that on May 15 ’24, Bourne Robert W. (SVP & Chief Commercial Officer) acquired 1,354 shares at an average price of $37.25 for $50430.0. The insider now directly holds 130,625 shares of Western Midstream Partners LP (WES).
